CREFINA: what changed
Two financial years side by side, explained: what moved most in the balance sheet and the result, why the result rose or fell, and where the money went.
CREFINA
Largest movements
- Cash +€8,184
up €8,184 (+2.8%), from €291,923 to €300,107
mainly Net result for the year (+€16,801) and Depreciation (+€5,430)
- Reserves +€12,302
up €12,302 (+5.8%), from €210,918 to €223,220
of which Tax-exempt reserves: +€12,302
- Debts after one year -€10,000
down €10,000 (-6.4%), from €155,500 to €145,500
- Financial income +€3,239
up €3,239 (+125.5%), from €2,581 to €5,820
- Depreciation -€3,224
down €3,224 (-37.3%), from €8,654 to €5,430
- Taxes +€2,100
up €2,100 (+36.6%), from €5,741 to €7,841
From the 2024 result to the 2025 result
Each bar is the change in one income-statement line, as its effect on the result: higher costs pull it down, higher income lifts it.
Cash bridge derived
Derived from the 2024 and 2025 balance sheets and the 2025 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €549,752 | €555,378 | +€5,626 | +1.0% |
| Fixed assets | 21/28 | €256,796 | €251,366 | -€5,430 | -2.1% |
| Tangible fixed assets | 22/27 | €256,796 | €251,366 | -€5,430 | -2.1% |
| Land and buildings | 22 | €256,796 | €251,366 | -€5,430 | -2.1% |
| Current assets | 29/58 | €292,956 | €304,012 | +€11,056 | +3.8% |
| Amounts receivable within one year | 40/41 | €1,033 | €3,905 | +€2,872 | +277.9% |
| Other amounts receivable | 41 | €1,033 | €3,905 | +€2,872 | +277.9% |
| Cash at bank and in hand | 54/58 | €291,923 | €300,107 | +€8,184 | +2.8% |
| Total equity and liabilities | 10/49 | €549,752 | €555,378 | +€5,626 | +1.0% |
| Equity | 10/15 | €241,820 | €258,621 | +€16,801 | +6.9% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Capital | 10 | - | €18,600 | +€18,600 | |
| Issued capital | 100 | - | €18,600 | +€18,600 | |
| Contributions outside capital | 11 | €18,600 | - | -€18,600 | |
| Share premium | 1100/10 | €18,600 | - | -€18,600 | |
| Reserves | 13 | €210,918 | €223,220 | +€12,302 | +5.8% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Legal reserve | 130 | - | €1,860 | +€1,860 | |
| Reserves not available under the articles | 1311 | €1,860 | - | -€1,860 | |
| Tax-exempt reserves | 132 | €69,299 | €81,600 | +€12,302 | +17.8% |
| Distributable reserves | 133 | €139,760 | €139,760 | = | 0.0% |
| Profit (loss) carried forward | 14 | €12,302 | €16,801 | +€4,500 | +36.6% |
| Amounts payable | 17/49 | €307,932 | €296,756 | -€11,175 | -3.6% |
| Amounts payable after more than one year | 17 | €155,500 | €145,500 | -€10,000 | -6.4% |
| Financial debts | 170/4 | €155,500 | €145,500 | -€10,000 | -6.4% |
| Amounts payable within one year | 42/48 | €152,432 | €151,256 | -€1,175 | -0.8% |
| Current portion of amounts payable after more than one year | 42 | €152,432 | €151,256 | -€1,175 | -0.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,654 | €5,430 | -€3,224 | -37.3% |
| Other operating charges | 640/8 | €449 | €462 | +€12 | +2.8% |
| Gross operating margin | 9900 | €24,633 | €24,780 | +€147 | +0.6% |
| Operating profit (loss) | 9901 | €15,529 | €18,888 | +€3,359 | +21.6% |
| Financial income | 75/76B | €2,581 | €5,820 | +€3,239 | +125.5% |
| Recurring financial income | 75 | €2,581 | €5,820 | +€3,239 | +125.5% |
| Financial charges | 65/66B | €67 | €66 | -€1 | -1.7% |
| Recurring financial charges | 65 | €67 | €66 | -€1 | -1.7% |
| Profit (loss) for the period before taxes | 9903 | €18,043 | €24,642 | +€6,599 | +36.6% |
| Income taxes | 67/77 | €5,741 | €7,841 | +€2,100 | +36.6% |
| Profit (loss) for the period | 9904 | €12,302 | €16,801 | +€4,500 | +36.6% |
| Profit (loss) for the period to be appropriated | 9905 | €12,302 | €16,801 | +€4,500 | +36.6% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 12 October 2026 via checked.be.